Two banks in Sheffield city centre expansion

The British Business Bank is eyeing a move into either Steel City House on Trippet Lane, or 3 St Paul’s, a newly opened £20m office block in the Heart of the City.

It is understood the bank, which is preparing to launch a £400m Northern Powerhouse Investment Fund, is set to create up to 25 jobs.

Meanwhile, Handelsbanken will move from Tudor Square into 3 St Paul’s in January after 10 years of continuous growth in the city.

Steel City House is having a £10m upgrade, which includes new floors, and is set to open in summer.

The announcements come after HSBC revealed plans to move into a new £90m block in the retail quarter, securing 3,000 jobs.

Keith Morgan, British Business Bank chief executive, said: “We remain wholly committed to Sheffield, in our role both as the UK’s national development bank, and as a catalyst for unlocking growth potential in the North of England.

“We now employ 79 at Foundry House in Sheffield, up from 40 in March 2014, and have additional vacancies open.

“Our regional funding team, based in Sheffield, is in full preparation mode for the launch early next year of the £400m Northern Powerhouse Investment Fund.”

Clare Ibbotson, Handelsbanken branch manager, said they needed room to expand but it was vital they stayed in the city centre for customers and to use other professional services.

She added: ”It’s excellent accommodation and shows our commitment to the city. Others have moved out of the centre and moved back in again. We absolutely wanted to be in the heart of the city.”

The bank was creating one job, she added.

Handelsbanken is Swedish, specialises in corporate and private banking, and has 212 offices in the UK, including a second in Sheffield on Barker’s Pool.

But they would not merge, Ms Ibbotson said, because the business model is based on small offices who get to know customers intimately.